*Why are NBFCs selling off?*:
(1) There is news that DHFL bond has sold for a high implied yield to maturity of ~11%.
(2) This has made stock investors of DHFL worried about DHFL's liqudity and sold off the stock.
(3) Other HFCs have sold off in sympathy with DHFL. Other non-HFC NBFCs have joined in the sell off.
(4) DHFL management has confirmed on air that they have not faulted and there is no liquidity crisis at DHFL.
(5) It is possible that the entity which sold DHFL paper did so because it was not satisfied with this exposure and wanted to sell anything of slightly questionable creditworthiness. *This is an example of risk aversion after the unfolding of the IL&FS saga even though entities being sold off have no direct exposure to IL&FS.*
(6) DHFL and IBHF have both confirmed on air they do not have any exposure to IL&FS.
Riskyman bhai abhi to online traderji par hi sweets kha lenge......... aa jao bhai aaj ke sabhi intraday/ swing shorter/seller( future,option or cash ) ke liye mithai.
HEM
My sis used to take me to films. She used to bunk college and use me as her insurance I vaguely remember the song! Was from one of those old Amitabh movies right?